RXO (NYSE:RXO) Trading Down 8.9% – Here’s Why

Shares of Rxo Inc (NYSE:RXO) traded down 8.9% during mid-day trading on Monday . The company traded as low as $14.39 and last traded at $14.3510. 645,384 shares were traded during trading, a decline of 76% from the average session volume of 2,701,742 shares. The stock had previously closed at $15.76.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RXO. Wall Street Zen lowered shares of RXO from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Morgan Stanley raised RXO from an “equal weight” rating to an “overweight” rating and set a $19.00 target price on the stock in a report on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of RXO in a research report on Monday, December 22nd. Zacks Research lowered shares of RXO from a “hold” rating to a “strong sell” rating in a research report on Friday, January 9th. Finally, UBS Group reissued a “neutral” rating on shares of RXO in a research report on Sunday, February 8th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.33.

RXO Price Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of -25.36, a P/E/G ratio of 8.47 and a beta of 1.74. The company has a fifty day simple moving average of $14.55 and a 200 day simple moving average of $15.11.

RXO (NYSE:RXO) last released its quarterly earnings results on Friday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). RXO had a negative net margin of 1.74% and a negative return on equity of 0.44%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the firm posted $0.06 EPS. RXO’s revenue for the quarter was down 11.9% on a year-over-year basis. Equities research analysts forecast that Rxo Inc will post 0.31 EPS for the current fiscal year.

Institutional Trading of RXO

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Attestor Capital Ltd purchased a new stake in RXO during the 4th quarter valued at $3,610,000. Invesco Ltd. increased its holdings in RXO by 22.6% in the 4th quarter. Invesco Ltd. now owns 1,172,748 shares of the company’s stock worth $14,824,000 after acquiring an additional 216,399 shares in the last quarter. Corient Private Wealth LLC bought a new stake in shares of RXO during the 4th quarter valued at $152,000. Mercer Global Advisors Inc. ADV lifted its holdings in RXO by 41.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,436 shares of the company’s stock worth $195,000 after purchasing an additional 4,499 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of RXO during the 4th quarter valued at about $129,000. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

RXO Company Profile

RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.